Housing Wire

NOVEMBER 30, 2023

Historically high rates harmed the housing market in October Annualized existing home sales remained below 4 million in October, the lowest rate since 2010. Existing-home sales and housing inventory will increase next year, and home prices will remain stable, said Lisa Sturtevant, the MLS’s chief economist. New home sales fell 5.6%

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Housing Wire

JANUARY 31, 2024

Even during the downturn of 2006-2010, this factor only hit a low of 3.84% (2010). Will that desire overcome the higher interest rate environment, higher home prices and the scarcity of inventory to move the level of homebuying back to historical averages? The factor for 2023 was 3.58%.

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Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. On the bright side, housing inventory rose 1.8% On the bright side, housing inventory rose 1.8% lower than October 2022 when inventory was at 1.22 from September, with 1.15

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Inventory Realtors New Listings Contracts 409

Housing Wire

NOVEMBER 22, 2023

“In recent weeks, rates have dropped by half a percent, but potential homebuyers continue to hold out for lower rates and more inventory,” Sam Khater, Freddie Mac’s chief economist, said in a statement. This dynamic is reflected in the latest data showing that existing home sales have fallen to a thirteen-year low.”

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Housing Wire

NOVEMBER 22, 2023

The number of home sales in 2023 will likely be at its lowest level since 2010, and while sales activity will pick up in 2024, transactions will still be below average. At a national level, if there are price drops, they will be modest and short-lived simply because inventory will still be very low by historic standards.

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Housing Wire

DECEMBER 28, 2022

Home Prices will fall, but don’t expect 2010. There will be two key differences between 2023 and 2010. The last time we saw prices decline, the combination of declining prices and bad mortgages forced inventory onto the market. Since the beginning of 2020, inventory levels have been historically low. months nationally.

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Housing Market Marketing Inventory Mortgage 491

Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! Plus, available housing inventory remains near historic lows.” Since the credit standards have improved post-2010, we shouldn’t see distressed sellers until a job loss recession happens, even if sales fall noticeably.

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Inventory New Listings Housing Market Sellers 528

Eyes on Housing

NOVEMBER 21, 2023

Existing home sales in October fell to the lowest level since August 2010, as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association of Realtors (NAR).

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Eyes on Housing

OCTOBER 19, 2023

Existing home sales in September fell to lowest level since October 2010 as limited inventory and higher mortgage rates continued to weigh on homebuyers, according to the National Association of Realtors (NAR).

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Inventory Mortgage Realtors 168

Housing Wire

NOVEMBER 8, 2023

The answer is no, and for that, we must thank the 2010 qualified mortgage (QM) rule, which has high standards for borrower credit scores and the ability to repay the loan. As we can see in the chart below, 2005-2008 was awful, but from 2010-2023, the credit data looks awesome compared to the housing bubble crash years.

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Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. As we can see above, none of this happened in the expansion from 2010 to 2020, as credit standards were much better.

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Housing Wire

JUNE 21, 2022

Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. Inventory skyrocketing back toward historical norms of 2 million to 2.5 Unsold inventory sits at a 2.6-month

Housing Market 540

Housing Market Marketing Inventory Mortgage 540

Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. Total Inventory had been growing from 2001-2005; total listings data in 2005 was at the higher historical range of 2.5

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Inventory New Listings Law Housing Market 384

Housing Wire

FEBRUARY 15, 2024

were 65 and older as of 2020, up from 13% in 2010,” the report reads. Homeowner tenure is projected to remain flat, but a larger share of homeowners remaining in place is also contributing to an inventory shortage, according to the report. Older generations have an outsized level of influence over the U.S.

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Housing Wire

NOVEMBER 4, 2022

Housing affordability and limited inventory impacted the buying power of all buyers, however, the greatest impact was felt by Black and Asian Americans, as both groups saw a shrinking share of home buyers,” Jessica Lautz, NAR’s vice president of demographics and behavioral insights, said in a statement. .” million in 2010.

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Housing Wire

JUNE 8, 2022

2012: What they said: Shadow inventory will cause prices to fall. The reality: Inventory broke down in 2012, and the monthly supply data got below 6.0 The “shadow inventory” was not an issue as it took years to get rid of the distressed supply from the housing bubble years. million of inventory is normal.

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Housing Wire

FEBRUARY 21, 2023

Before that, you have to go back to October 2010 to find total sales this low.” As the number of days a property typically stayed on the market rose to 33 in January from 26 days in December, inventory of existing homes also rose, jumping 2.1% Inventory remains low, but buyers are beginning to have better negotiating power,” Yun added.

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Housing Wire

APRIL 14, 2023

Homebuyers placed competitive offers on homes while inventory grew increasingly difficult to find. At that time, housing inventory dropped to historic lows making the environment ripe for investors. Notably, during the timeframe of the First-time Home Buyer Tax Credit, there was significantly more inventory than seen today.

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Housing Wire

SEPTEMBER 28, 2023

Since pending home sales generally lead existing-home sales by a month or two, home sales are likely to remain close to the annualized rate of 4 million through the fall, the first time since 2010, First American Deputy Chief Economist Odeta Kushi said. Buyers are hitting affordability ceilings, causing some of them to sit out the market.

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Housing Wire

MAY 18, 2023

If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022. NAR Total Inventory Data going back to 1982. As you can see in the chart above, days on the market falling isn’t a good thing, but it’s the reality of the world we live in after 2010. million, up from 1.03 million last year.

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Housing Wire

MAY 19, 2022

This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. We were told that population growth is slowing, we were told that Americans would panic sell and that massive inventory would hit the marketplace once rates got to 4%. Wait, what? I use the 1.52-1.93

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Housing Market Marketing Inventory Realtors 525

Housing Wire

SEPTEMBER 8, 2022

This can lead to home prices getting out of control , especially when total inventory gets to all-time lows. The National Association of Realtors’ total Inventory data shows that historically we have between 2 to 2.5 million homes for sale, but in 2022 we got as low as 870,000 in total inventory.

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Inventory Law Housing Market Design 544

Housing Wire

FEBRUARY 9, 2022

It’s simple: inventory levels were at all-time lows in 2021 and they just got worse in 2022, don’t make it any more complicated than that. Now we’re in years 2020-2024 and not only has inventory dropped to all-time lows, but we’re also dealing with the most significant housing demographic patch ever recorded in U.S.

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Inventory Buyers Sellers Investors 370

Housing Wire

FEBRUARY 9, 2022

It’s simple: inventory levels were at all-time lows in 2021 and they just got worse in 2022, don’t make it any more complicated than that. Now we’re in years 2020-2024 and not only has inventory dropped to all-time lows, but we’re also dealing with the most significant housing demographic patch ever recorded in U.S.

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Inventory Buyers Sellers Investors 370

Housing Wire

APRIL 20, 2022

However, the real story of 2022 is that the savagely unhealthy housing market continues as inventory is still lower than last year, sending home prices growth into double digits again. However, post-2010, we have had times when housing demand has gotten softer with higher mortgage rates. 2014 was the last year total inventory grew.

Housing Market 491

Housing Market Marketing Inventory Mortgage 491

Housing Wire

JULY 6, 2022

From MBA : Post-2010, lending in America has been pretty vanilla, just essential long-term fixed products with sensible underwriting. Look, no massive foreclosures are happening to send inventory skyrocketing. Because credit got better post-2010, we can see credit availability declines from 2005-2008. Why is this?

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Housing Wire

APRIL 28, 2022

A combination of home price appreciation, inflation, and low housing inventory continued to dent homebuyers’ ability to buy homes in March. last month, the highest since 2010. The trend of a decrease in homebuyer affordability is forecast to persist in the coming months, hitting first-time buyers the most. . the previous month.

Mortgage 370

Mortgage Inventory Buyers Marketing 370

Housing Wire

MAY 10, 2022

The homeownership rate for Black Americans has actually declined between 2010 and 2020 and stands at 43.4%, while the homeownership rate for white Americans is 72.1%. The report used real time listing data to show the limited housing inventory and the repercussions to home buyers. While the homeownership rate in the U.S.

Housing Market 449

Housing Market Realtors Buyers Inventory 449

Housing Wire

APRIL 24, 2023

million, the existing home sales forecast represents the slowest annual pace since 2010, according to the ESR Group. Homebuilders continue to show a willingness to offer rate buy-downs and other incentives to move their inventories. Still, at an expected 4.2

Construction 384

Construction Inventory Lending Mortgage 384

Housing Wire

JANUARY 21, 2021

million average growth from 2010 through 2020, UI projects 8.5 In today’s low-inventory environment, complicated by external factors such as forbearance and foreclosure moratoriums, it’s crucial for real estate agents and brokers to be proactive in order to grow their business. million in growth from 2020 through 2030 and 7.6

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Real Estate Agent Real Estate Inventory Finance 479

Housing Wire

APRIL 28, 2022

Despite the acute inventory shortage, the National Association of Realtors estimated this week that 5.6 million last year, but higher than any year between 2010 and 2019. When inventory gets tighter, Schneider said, “Higher-end agents get a bigger share of the volume.”. million existing homes will be resold in 2022, down from 6.1

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Mortgage Brokerage Agents Real Estate Agent 369

Housing Wire

JANUARY 12, 2022

Early in 2021, when I was talking about how people should worry about home prices overheating, I had a glimmer of hope that maybe toward the end of 2021 we would be spared another seasonal collapse of inventory. Inventory always falls in the fall and winter, but I hoped it wouldn’t be a repeat of 2020.

Inventory 538

Inventory Mortgage Housing Market Marketing 538

Housing Wire

MARCH 23, 2023

If there’s one sector of the economy that benefits from the very low levels of total housing inventory , it’s the homebuilders , but for a reason you might not think. If national housing inventory were back to normal, we would have 2 to 2.5 That will be a much better environment for the builders. his represents a supply of 8.2

Inventory 545

Inventory Housing Market Construction Marketing 545

Housing Wire

MAY 20, 2022

Since 2010, Bluff ton’s population has nearly tripled to about 34,000 making it one of America’s fastest growing towns. This rapid increase in prices, coupled with local housing inventory dropping over 50% in 2021, has meant times are tough for buyers looking to settle in Bluffton. Low inventory is yet another issue.

Housing Market 409

Housing Market Marketing Real Estate Agent Real Estate 409

Housing Wire

AUGUST 25, 2022

Between lack of inventory, record high prices, rising interest rates and significant affordability issues, challenges for the purchase and refi markets are leading to a time of opportunity for home equity lending. The misconception primarily stemmed not from the quality of the AVMs, but from the misuse of AVMs.

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Lending Valuation Appraisal Process Appraisal 386

Housing Wire

DECEMBER 29, 2021

Also, post-2010, the loans in American are very vanilla on the debt structure side of the equation. Currently, home-price growth is too hot, which is why I label this the unhealthiest housing market post-2010. These households got sub-3.5% mortgage rates, so on the mortgage rate side of the equation, it’s never been better.

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Housing Market Marketing Construction Mortgage 533

Housing Wire

OCTOBER 1, 2022

As reported in the latest NAR Existing-Home Sales , inventory still remains in tight supply, which means homes are still moving at a fast past despite the recent rise in rates and home prices. Notably, during the timeframe of the First-time Home Buyer Tax Credit, there was significantly more inventory than seen today.

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Realtors Housing Market Marketing Buyers 397